US Stocks Dip as Memory Stocks Defy Trend with Strong Gains

The US stock market closed slightly lower on Thursday after hitting new highs earlier in the week. The S&P 500 Index pulled back slightly, with all three major indexes declining by small margins.

However, memory stocks bucked the trend to gain, with SanDisk extending its gains by 7.39% to close at $1,641.11. Goldman Sachs noted that SanDisk's FY28-30 long-term guidance exceeded expectations, with an 80% gross margin and a 75% operating margin.

Tech stocks were mixed, with Tesla rising 0.68% and Apple gaining 0.22%, but Broadcom falling 5.93%. The Philadelphia Semiconductor Index fell 0.31% to 12,417.05 points, with 15 constituents advancing and 15 declining.